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AUSTIN-Congress Holdings rolls out the red carpet for incoming tenants to the newest office building near the capitol. The 26,800-sf 1001 Congress is about 30% leased. Inbound street level, naturally, is a Starbucks.
ORLANDO-The Florida Elections Commission has filed 100 misdemeanor and third-felony charges against 12 statewide trade groups, including locally based Home Builders Association of Mid- Florida Inc. The total amount involved is $15,000.
DALLAS-It was, says Bill Cawley, "the hardest business day of my life." The Dallas-Fort Worth favorite son "right-sizes" his 100-member workforce to keep pace with the economy. Wilcox Development Co. takes the biggest hit.
RICHMOND, VA-Two Paragon Square, a 142,500-sf Class A building built in 1989, sells for $14.8 million to Plymouth Meeting, PA's Brandywine Realty Trust. The acquisition is in line with the company's investment strategy of purchasing Class A properties in its core markets.
CHICAGO-"I think we're probably at the bottom," First Industrial Realty Trust president and chief executive officer Michael W. Brennan tells the NAREIT Institutional Investors Forum this week. "I'm not ready to be jubilant yet and say all is perfect.
CRANFORD, NJ-The assets, located in Houston, Denver and Northern California, were moved as part of the REIT's strategy of focusing on the Northeast. But a contract to sell 17 other buildings in Denver has been terminated, with market conditions cited.
KENNEWICK, WA-The Cincinnati-based Federated Department Stores, Inc. signs an agreement for two new Bon Marche stores -- one here and one in Coeur d'Alene, ID. Both properties, currently operated by Gottschalks Inc., will undergo remodeling beginning in August and are scheduled to re-open as Bon Marche stores by late fall.
ATLANTA-The 227-unit, 92%-occupied apartment complex is the first sale from Texas-based Archon Group's $600 million, 34-property nationwide portfolio being marketed by the Atlanta office of CB Richard Ellis. Two others, Hunter's Bay and Chelsea Park, are in Atlanta. Lincoln paid $15.7 million.
ROCKLIN-A 67-room boutique hotel in the Sierra Foothills has been sold for $6.2 million. The purchase represents the Presidio Hotel Group's entry into to the boutique luxury hotel market.
MIAMI-The Pompano Beach, FL-based retailer paid Unisource Worldwide Inc. of Atlanta $4.4 million or $52.36 per sf for the 84,026-sf property in Miramar Park of Commerce, 20 miles north of Downtown Miami.